19th Jul 2016
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How to lodge your tax return online with myTax
How to lodge your tax return online with myTax

Do you pay for an accountant to do your taxes? The ATO’s new myTax tool isn’t as complex as you may think and it’s entirely free to use, so why not do it yourself?

Paying an accountant to do your taxes for you might not seem like a big expense if you’re working full-time or even part-time, but if you’re preparing for retirement, or just looking to cut back on costs, you may want to consider lodging them yourself.

If your financial situation isn’t too complicated and you have all of your details on hand, your taxes might only take about half an hour to do. If you do run into some issues, or have to stop halfway through the process, you can save your progress so you don’t have to start all over again. myTax is compatible with Mac, PC, smartphones and tablets, so you shouldn’t run into any tech trouble when you’re getting things started.

To do your taxes online you’ll need a myGov account, so head over to the myGov website and click the ‘Create a myGov account’ button if you haven’t already got one.

This video will walk you through creating a myGov account and connecting it to the ATO.

Once your accounts are connected, log into myGov and then click the ATO button at the bottom of the page, next to where it says ‘My linked services’.

The following screen allows you to update your details, find your tax file number or determine whether you need to lodge a tax return this year, among other options. To begin lodging your taxes, click the ‘Lodge’ or ‘Lodge myTax’ button and then follow the prompts.

There are four steps:

  1. Are your contact details up to date?
  2. Are your financial institution details up to date?
  3. Personalise your return
  4. Prepare return


Steps 1 and 2 are straightforward, and if you haven’t recently moved or changed banks you may not need to update anything.

Steps 3 and 4 get a little bit more complicated. You will be required to fill out some information and check some boxes, but a lot of this will be pre-filled for you. This is because myTax gathers information from banks, employers, private health insurance funds and other government agencies and inserts it into myTax. Just make sure you double-check everything with your own records, as mistakes can occur.

The information that myTax gathers from third parties should be made available by early August, but you can lodge earlier by entering this information by yourself.

At the end of step 4 you will be given an estimate of your tax refund or amount owing.

Lastly, double check everything that you have entered then read over the declaration. By checking the box you are digitally signing your return.
After you lodge your return you will receive a receipt and you may also amend your return. To do this log back into myGov and open up the ATO website again. Mac or PC users can click Tax, located at the top of the page, then click Income Tax > View or amend results. Smartphone or tablet users can tap the Menu icon at the top left of the website, then tap Tax > Income Tax > View or amend returns.

Have you used myTax or eTax before? Did you find it easy to use?

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    COMMENTS

    To make a comment, please register or login
    mike
    20th Jul 2016
    11:23am
    Very simple. Work out how much you have earned. How much you have spent. How much you have left. Send it to the Tax Dept.
    Scrivener
    20th Jul 2016
    11:25am
    Got it in one!
    Anonymous
    20th Jul 2016
    3:16pm
    A penny saved is obviously the result of a government oversight.
    Old Geezer
    20th Jul 2016
    7:20pm
    That's what I do every year.
    Scrivener
    20th Jul 2016
    11:25am
    We tried MyTax last year and ended up paying several thousand dollars. Point being some of the things a Tax agent can claim for you do not appear as boxes to tick in MyTax. I think a tax agent can later claim for errors you have made online - but why not go to an agent if you are going to spend the tax-assessable amount of agent fees in any case?
    KB
    20th Jul 2016
    11:30am
    Paper form is complicated. Better off if you can afford the cost to use a tax accountant.
    jackie
    28th Aug 2016
    9:44am
    KB.... You do have access to the Internet I see. Set up your MyGov account and do it online. It is simple and straightforward. Download the ATO phone app and do it on that. Tax Accountants all charge different fees and provide inconsistent outcomes for the same information provided. Use the ASIC Tax Calculator it will work out how much is owing to you or you to them. Otherwise, seek a free service by calling ATO.
    dreamer
    20th Jul 2016
    12:54pm
    I had some trouble working out some tax exempt or not items.
    Don't think I am getting right amount back but don't know how to check it.
    jackie
    28th Aug 2016
    9:36am
    dreamer....the ATO website and ASIC can provide you information on anything you are not sure of.
    Fready
    20th Jul 2016
    1:40pm
    Last year I paid a tax accountant/financial adviser 3 times what I had been paying in order to get financial advice. He made a huge error that could have been avoided by simply adding the value of my assets (as I did). Had I used his figures the ATO would have been after me.
    Needless to say I didn't get any financial advice.!!
    Retired Knowall
    20th Jul 2016
    2:29pm
    eTax was easy and straightforward, I hope myTax is as easy.

    20th Jul 2016
    3:15pm
    If it is anything like a couple of their other websites it will keep you going in a totally hopeless, never-ending circle with no fruitful assistance whatsoever. Typical government run around.
    Sundays
    20th Jul 2016
    5:57pm
    I worked as a tax help volunteer for 10 years, and I am biased but it is a good free program for low income earners . Now I just do tax returns for family and friends, and finally the ATO have a very user friendly program to use. Much better than E tax. Did my first return last week, and the refund took 6 days
    jackie
    28th Aug 2016
    9:31am
    Sundays....I called to make an appointment to see one. The earliest they could book me in was at end of September. Their attitude was condescending. I ended up doing it on the MyGov site which had all my details and it took less than 10 minutes.
    maelcolium
    20th Jul 2016
    6:09pm
    Taxhelp volunteers are trained and authorised by the ATO. They have to pass testing each year and the service is free. Call the ATO on 132861 for a taxhelp centre near you.
    jackie
    28th Aug 2016
    9:34am
    maelcolium....Low income earners don't need them. You have to be poor as a mouse to use one for something that takes less than 10 minutes to do on MyGov for free. The ATO site provides all the information you are not sure of.
    jackie
    28th Aug 2016
    9:25am
    I went on and was told I owe money. I went and checked with the ASIC tax calculator and some other online private tax consultant places. All provided me with a different outcome for the same details. The largest tax agency that has been around for years came back the highest amount owing. I can't understand these online tax services that charge for work you are doing yourself. Low-income earners pay more tax than corporations these days.
    Caz
    18th Apr 2017
    2:59pm
    The mygov website chooses not to recognise my user name or password. when I try to change either one or the other the website says it will send me a link to follow to change these. I have tried several times but I never have received the link. Consequently, I can't do my tax online, nor can I receive "important communications" sent to me by Centrelink. Good luck to you all!


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